First, yes, it is ALWAYS worth the extra time to get a better render, in my opinion!
WMV is definitely fine and will work with PowerPoint and other MS apps, so it can be the best choice, in some situations. Personally, I like MainConcept’s AVC (MP4), 2-pass VBR, etc., but lots of folks here like Sony’s AVC (MP4) encoder as well. This all certainly depends on your playback device: You using a computer? iPod? DVD player? PSP? Internet?
Without more info, a pure guess might be:
1920×1080@29.97
2-pass VBR
Max: 20Mbps
Average: 15Mbps
This is way high for most distribution, but your camera is shooting 19Mbps, so 20Mbps max is pretty good, although “best” would be if you didn’t need to convert at all and could playback the raw MTS files (like on a PS3), so, again, it depends.
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A lot of modern directors and their movies are influenced
by the flat lighting and textbook cutting style of television.
— Roger Ebert
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